Real-time messaging in a supply chain financing network

ABSTRACT

A system and method for transmitting real-time messages within a supply chain financing (SCF) network using a using a customized and improved messaging protocol is provided. A computing device receives a SCF request message having an SCF messaging protocol including a plurality of data fields including SCF request data related to a request for supply chain financing including an early payment identifier, parses the SCF request message based upon the SCF messaging protocol, selects a financing entity for receiving the request, stores within the memory device the SCF request data, transmits an early payment message having the same messaging protocol to the selected financing entity, receives a confirmation message having the same SCF messaging protocol from the financing entity including a plurality of data fields including SCF confirmation data, and stores within the memory device the SCF confirmation data with the SCF request data.

BACKGROUND

This disclosure relates generally to data transmission and, moreparticularly, to systems and methods for transmitting real-time messageswithin a supply chain financing (SCF) network using a customized andimproved messaging protocol.

Computing devices are used to communicate information. An entity wishingto communicate information electronically to other entities can use acomputing device to transmit a message containing information to othercomputing devices through a telecommunications network. Because thesemessages are in the form of encoded binary data, such messages must besent according to a predetermined protocol, so that the computing devicereceiving the message can interpret the binary data to ascertain theinformation being received. A message standard is an example of such aprotocol.

Message standards are developed and defined by various organizations.For example, the ISO 20022 message standard is defined by theInternational Organization for Standardization (ISO) for the transfer ofinformation between financial institutions. The ISO 20022 standardallows for, in some cases, financial data to be transmitted in a messagefrom one institution to another. Because standards are oftentimesaccepted by multiple parties, messages sent according to standards suchas ISO 20022 are increasingly gaining acceptance in various contexts.

Currently, no such messages, however, are used to support supply chainfinancing. In a supply chain financing (SCF) transaction, a supplierreceives payment of an invoice from a financing entity, less a discount,on an accelerated timeframe. The financing entity is then paid the fullinvoice amount when the invoice is due.

SCF transactions, by their nature of involving multiple entities,require the transfer of financial data from one entity to another. It istherefore desirable to have real-time messaging of financial databetween these entities where messages are sent according to a specificmessage standard, and wherein these messages can be easily linkedtogether to create a complete transaction history for storage in acentral database.

BRIEF DESCRIPTION

In one aspect, this disclosure provides a computing device forprocessing real-time messages for a supply chain financing (SCF)transaction. The messages have a standardized messaging protocol. Thecomputing device includes at least one processor and memory device incommunication with the at least one processor. The at least oneprocessor is configured to receive a SCF request message including aplurality of data fields including SCF request data related to a requestfor providing supply chain financing wherein the SCF request message isgenerated using a SCF messaging protocol and includes an early paymentidentifier, parse the SCF request message based upon the SCF messagingprotocol, select a financing entity for receiving the request forproviding supply chain financing, store within the memory device the SCFrequest data including the early payment identifier parsed from the SCFrequest message and the selected financing entity, transmit an earlypayment message to the selected financing entity including a pluralityof data fields related to providing of the supply chain financingwherein the early payment message has the same SCF messaging protocoland early payment identifier, and receive a confirmation message fromthe financing entity including a plurality of data fields including SCFconfirmation data related to confirming early payment to the supplier bythe selected financing entity wherein the confirmation message has thesame SCF messaging protocol and the early payment identifier, and storewithin the memory device the SCF confirmation data with the SCF requestdata, wherein the early payment identifier allows for the messages to belinked together within the memory device.

In another aspect, this disclosure provides a computer-implementedmethod for processing real-time messages for a supply chain financing(SCF) transaction. The messages have a standardized messaging protocol.The method is implemented by a computing device including at least oneprocessor and memory device in communication with the at least oneprocessor. The method includes receiving a SCF request message includinga plurality of data fields including SCF request data related to arequest for providing supply chain financing wherein the SCF requestmessage is generated using a SCF messaging protocol and includes anearly payment identifier, parsing the SCF request message based upon theSCF messaging protocol, selecting a financing entity for receiving therequest for providing supply chain financing, storing within the memorydevice the SCF request data including the early payment identifierparsed from the SCF request message and the selected financing entity,transmitting an early payment message to the selected financing entityincluding a plurality of data fields related to providing of the supplychain financing wherein the early payment message has the same SCFmessaging protocol and the early payment identifier, receiving aconfirmation message from the financing entity including a plurality ofdata fields including SCF confirmation data related to confirming earlypayment to the supplier by the selected financing entity wherein theconfirmation message has the same SCF messaging protocol and the earlypayment identifier, and storing within the memory device the SCFconfirmation data with the SCF request data, wherein the early paymentidentifier allows for the messages to be linked together within thememory device.

In another aspect, this disclosure provides at least one non-transitorycomputer readable media having computer-executable instructions thereonfor processing real-time messages for a supply chain financing (SCF)transaction. The messages have a standardized messaging protocol,wherein when executed by at least one processor of a computing device,cause the at least one processor to receive a SCF request messageincluding a plurality of data fields including SCF request data relatedto a request for providing supply chain financing wherein the SCFrequest message is generated using SCF messaging protocol and includesan early payment identifier, parse the SCF request message based uponthe SCF messaging protocol, select a financing entity for receiving therequest for providing supply chain financing, store within the memorydevice the SCF request data including the early payment identifierparsed from the SCF request message and the selected financing entity,transmit an early payment message to the selected financing entityincluding a plurality of data fields related to providing of the supplychain financing wherein the early payment message has the same SCFmessaging protocol and the early payment identifier, receive aconfirmation message from the financing entity including a plurality ofdata fields including SCF confirmation data related to confirming earlypayment to the supplier by the selected financing entity wherein theconfirmation message having the same SCF messaging protocol and theearly payment identifier, and store within the memory device the SCFconfirmation data with the SCF request data, wherein the early paymentidentifier allows for the messages to be linked together within thememory device.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a schematic of a system for real-time messaging in a supplychain financing (SCF) network.

FIG. 2 is a schematic diagram illustrating the steps of an example SCFtransaction where a supplier makes the final, closing payment to afinancing entity.

FIG. 3 is a schematic diagram illustrating the computing devices of theexample transaction of FIG. 2

FIG. 4 is a flow chart illustrating the steps of the example transactionof FIG. 2.

FIG. 5 is a schematic diagram illustrating the steps of selecting afinancing entity in the example transaction of FIG. 2.

FIG. 6 is a schematic diagram illustrating the steps of an example SCFtransaction where a buyer makes the final, closing payment to afinancing entity.

FIG. 7 is a schematic diagram illustrating the computing devices of theexample transaction of FIG. 6.

FIG. 8 is a flow chart illustrating the steps of the example transactionof FIG. 6.

DETAILED DESCRIPTION

The following detailed description illustrates embodiments of thedisclosure by way of example and not by way of limitation. Thedescription enables one skilled in the art to make and use thedisclosure, describes several embodiments, adaptations, variations,alternatives, and uses of the disclosure, including what is presentlybelieved to be the best mode of carrying out the disclosure.

Systems and methods for real-time data messaging between computingdevices in a supply chain financing (SCF) network are disclosed herein.The systems and methods may include a plurality of computing devicesconnected in network communication. These computing devices may includeat least a supplier computing device, a buyer computing device, afinancing entity computing device, and a SCF computing device. Each ofthese devices is configured to transmit and receive messages, whereineach message may include a specific data-rich format according to acustomized and improved messaging protocol. The specific messagingformat includes a plurality of data fields dedicated specifically to anSCF transaction. The computing devices connected in the SCF network mayalso be connected through one or more payment networks that areconfigured to transfer funds between the parties (e.g., an automatedclearing house (ACH) payment system, a wire transfer system, a real-timepayments system such as The Clearing House Real-Time Payments system, orother payment systems).

At least some known systems used for supporting SCF transactionsleverage emails or spreadsheets to exchange information about thetransaction. This requires manually reconciling the data with paymentsreceived and other data associated with the transaction. Requiringindividuals to keep track of or proactively consolidate the receivedinformation is a time consuming administrative headache for corporateentities involved in such SCF transactions.

This disclosure provides a system and method for real-time messaging ina supply chain financing (SCF) network. The SCF network includes a firstcomputing device, such as the supplier computing device, which may beassociated with one entity (e.g., a supplier) involved in an SCFtransaction. Specifically, the supplier may be a person or entity thatsupplies or otherwise sells an item (e.g., goods or services) to abuyer. The supplier computing device includes at least one processor incommunication with a memory device, and is configured to transmit and/orreceive at least one message according to the improved messagingprotocol that is readable by a second computing device, such as the SCFcomputing device.

The SCF computing device is associated with the SCF network, andincludes at least one processor in communication with a memory device.Messages sent over the SCF network between the different parties aresent through the SCF computing device. The SCF computing device receivesmessages from one entity, interprets the message to determine where themessage should be routed, and transmits the message to the appropriateother entity. In the example embodiments, the entities in communicationwith the SCF computing device include the buyer, the supplier, and thefinancing entity. Each of the supplier, the buyer, and the financingentity has an associated computing device that sends messages to andreceives messages from the SCF computing device. As explained below infurther detail, the messages are formatted using the improved messagingprotocol and include a plurality of specific data fields associated withthe SCF transaction. SCF computing device may provide a web portalaccessible by other computing devices, through which the supplier, buyerand financing entity may enter information to be transmitted accordingto the improved SCF messaging protocol. Thus, a message according to theimproved SCF messaging protocol may be generated through the web portalprovided by SCF computing device, received by the SCF computing device,and transmitted through the SCF network.

In the example embodiment, the SCF network may also include a thirdcomputing device, such as the buyer computing device, which may beassociated with a buyer that is involved in an SCF transaction.Specifically, the buyer may be a person or entity that buys or otherwiseobtains an item (e.g., goods or services) from the supplier in an SCFtransaction. The buyer computing device includes at least one processorin communication with a memory device, and is configured to transmitand/or receive at least one message according to the improved messagingprotocol that is readable by the other computing devices in the SCFnetwork.

In the example embodiment, the SCF network may also include a fourthcomputing device, such as the financing entity computing device, whichmay be associated with one or more financing entities involved in an SCFtransaction. Specifically, the financing entity may be a person orentity that provides early payment (e.g., financing) of an invoiceassociated with the items bought or otherwise obtained by the buyer fromthe supplier in the SCF transaction. The early payment is made by thefinancing entity to the supplier. The buyer then owes the payment of theinvoice to the financing entity. The financing entity computing deviceincludes at least one processor in communication with a memory device,and is configured to transmit and/or receive at least one messageaccording to the improved messaging protocol that is readable by theother computing devices in the SCF network.

In the example embodiments, each of the computing devices connected inthe SCF network are configured to generate, transmit, and receivemessages using the improved messaging protocol described herein andspecific to an SCF transaction. The different computing devices maydiffer with respect to being associated with a particular entityinvolved in the SCF transaction, but not in their capability to send,receive, encode and decode messages transmitted within the SCF network.In a given SCF transaction, for example, a single computing device mayboth send and receive messages, and may encode and decode said messages.With respect to a given message sent in the SCF network, a singlecomputing device may either transmit or receive the message depending onthe entity associated with the computing device and the context of themessage.

In the example embodiment, the SCF messages are formatted according to aspecific messaging protocol, which is specific to the SCF network. TheSCF messaging protocol allows each of the computing devices, whenreceiving an SCF message, to automatically interpret the messageincluding the data included in the plurality of data fields of themessage. The SCF messages include a plurality of specific data fields.The specific data fields correspond to information associated with atypical SCF transaction. Because the SCF message is formatted accordingto the messaging protocol, the computing device receiving the messagecan associate data in the incoming message with the corresponding datafield. In the example embodiment, the SCF improved messaging protocol isbased upon a predefined standard such as the ISO 20022 messagingprotocol. Basing the SCF messaging protocol on such a predefinedstandard allows for simplicity in implementing the system among variouscomputing devices and the ability to leverage a large amount of data ina single message.

The specific data fields included in the SCF message correspond toinformation associated with a typical SCF transaction. Each of thevarious SCF messages sent includes a plurality of data fields. The datafields included in a particular SCF message depend on the entitiessending and receiving the message, and the context of the message withinthe SCF transaction. The example SCF transactions described belowillustrate some of the different messages that can be sent during an SCFtransaction over the SCF network.

In one example SCF transaction, the final, closing payment is made bythe supplier. In this example, the buyer may submit a purchase order(PO) to a supplier for items (e.g., goods or services) purchased by thebuyer from the supplier. The supplier then may send an invoice to thebuyer, which includes the amount owed to the seller in exchange for theitems and the due date by which the amount must be paid. In many cases,the due date for payment is based on payment terms negotiated betweenthe parties (e.g., 60 days, 90 days, 120 days, etc.). The supplier,wishing to receive payment earlier than the invoice due date, mayrequest an early payment from one or more of the financing entities.Specifically, the supplier may submit a request through the SCF networkfor earlier payment. SCF computing device may select a financing entity,and transmit an SCF early payment request message to the financingentity. The financing entity may accept the request to finance an earlypayment and thus transfer a discounted early payment amount to thesupplier's account. This transfer of funds may be facilitated using oneor more payment networks (e.g., an automated clearing house (ACH)payment system, a wire transfer system, a real-time payments system suchas The Clearing House Real-Time Payments system, or other paymentsystems).

In other words, the financing entity pays the supplier early—asdiscussed below a discounted amount—for the items provided to the buyerso that the supplier is able to get paid without having to wait the 60days, 90 days, etc. The SCF computing device, on behalf of the financingentity, may send an SCF early payment confirmation message to thesupplier through the SCF network. When the buyer pays the invoice amountto the supplier, the supplier may initiate the closing payment and theSCF computing device may send an SCF closing payment confirmationmessage to the financing entity through the SCF network. In someembodiments, the SCF computing device may also send an SCF closingpayment confirmation message to the supplier and/or the buyer. Thesupplier may pay the original invoice amount to the financing entity.Thus, the supplier is paid a discounted amount by the financing entityfor an accelerated or early payment, and, when the buyer pays thesupplier the full amount on the invoice due date, the financing entityis paid the full amount in return for the accelerated payment alreadymade to the supplier. The supplier's payment to the financing entity mayalso be facilitated using one or more payment networks (e.g., anautomated clearing house (ACH) payment system, a wire transfer system, areal-time payments system such as The Clearing House Real-Time Paymentssystem, or other payment systems).

In another example SCF transaction, the final, closing payment is madeby the buyer. The buyer may submit a purchase order (PO) to a supplierfor items. The supplier may send an invoice to the buyer, which includesthe amount owed to the seller in exchange for the items and the due date(e.g., 60 days, 90 days, 120 days, etc.) by which the amount must bepaid to the supplier. The SCF computing device may select a financingentity that may offer supply chain financing to the supplier. The SCFcomputing device, on behalf of the selected financing entity, may sendan SCF early payment offer message through the SCF network. The suppliermay accept the offer through the SCF network. The financing entity maycredit the early payment amount to the supplier's account. This transferof funds may be facilitated using one or more payment networks (e.g., anautomated clearing house (ACH) payment system, a wire transfer system, areal-time payments system such as The Clearing House Real-Time Paymentssystem, or other payment systems). The SCF computing device, on behalfof the financing entity, may send a SCF early payment confirmationmessage to the supplier and an early payment notification message to thebuyer through the SCF network. When the invoice is due, the buyer mayinitiate the closing payment and an SCF closing payment confirmationmessage is sent by the SCF computing device through the SCF network. Insome embodiments, the SCF computing device may also send an SCF closingpayment confirmation message to the supplier and/or the buyer. The buyermay pay the original invoice amount directly to the financing entity.The buyer's payment to the financing entity may also be facilitatedusing one or more payment networks (e.g., an ACH system or othernetworks).

As illustrated in these examples, SCF messages sent can include an (i)early payment request message, (ii) an early payment offer message,(iii) an early payment confirmation message, (iv) an early paymentnotification message, and (v) a closing payment confirmation message.Each of the messages may contain at least some of a plurality ofspecific data fields associated with the SCF transaction. These datafields may include, for example, fields associated with a buyer name, abuyer address, a supplier name, a supplier address, a funding bank name,a funding bank ID, a receiving bank name, a receiving bank ID, a payingbank name, a paying bank ID, a purchase order (PO) number, an invoicenumber, original payment terms, an original invoice amount, an invoice(attached PDF), an invoice date of approval, a discount code, asettlement date, a discount offered, a discount applied, an earlypayment amount, an early payment identifier, a closing payment date, anda closing payment amount.

The early payment identifier is a unique identifier (e.g., a number oralphanumeric code) associated with an early payment in an SCFtransaction. The various data transmissions, including each subsequentmessage in a single SCF transaction, each contain the same early paymentidentifier, which enables the SCF computing device to link each messagetogether for a single SCF transaction and store this data in a centralmemory storage. By including the early payment identifier in eachmessage, the system is able to create linked messages, which allows thesystem to better track and analyze SCF transactions.

Data fields that relate to the entities involved in the SCF transactionmay include fields associated with a buyer name, a buyer address, asupplier name, a supplier address, a funding bank name, a funding bankID, a receiving bank name, a receiving bank ID, a paying bank name, anda paying bank ID. In the examples above, the buyer name and buyeraddress are a name and address of the buyer, and the supplier name andaddress are a name and address associated with the supplier. The fundingbank name and funding bank ID are a name and a unique identifierassociated with the financing entity. The receiving bank name andreceiving bank ID are a name and unique identifier associated with abank where the early payment is deposited. The paying bank name andpaying bank ID are a name and unique identifier associated with a bankfrom which the closing payment is withdrawn.

Data fields that relate to the original purchase from the supplier bythe buyer may include fields associated with a purchase order (PO)number, an invoice number, original payment terms, an original invoiceamount, an invoice (attached PDF), an invoice date of approval, and adiscount code. The purchase order number is a identifier associated withthe purchase order. The invoice number is a unique identifier associatedwith the invoice. The original payment terms include the amount and dateby which the buyer is obligated to pay the supplier. The invoice is acopy of the original invoice attached to the message as a PDF. Theoriginal invoice amount is the amount the buyer is obligated to pay thesupplier. The invoice date of approval is the date the invoice isapproved. The discount code is a code included on an invoice associatedwith an early payment to be reconciled with the supplier's accountingsystem, allowing the discounted early payment to be reconciled with theoriginal invoice.

Data fields relating to the terms of the SCF transaction itself mayinclude fields associated with a discount applied, a discount offered, asettlement date, an early payment amount, an early payment identifier, aclosing payment amount, and a closing payment date. The discount appliedis the difference between the invoice amount and the amount to be paidearly to the supplier by the financing entity. The discount offered is aproposed discount amount. The settlement date is the date the earlypayment is to settle in the supplier's account. The early payment amountis the amount the supplier receives immediately from the financingentity, equal to the invoice amount minus the discount amount. The earlypayment identifier, as discussed above, is a unique identifier (e.g., anumber or alphanumeric code) associated with an early payment in an SCFtransaction that allows the SCF computing device to link each messagetogether from a single SCF transaction and store this data in a centralmemory storage. The closing payment amount is the amount to be paid tothe financing entity by the due date of the original invoice, which isequal to the original invoice amount. The closing payment date is thedate by which the closing payment is to be made.

In the examples above, the early payment request message may includespecific data fields associated with: the buyer name, the buyer address,the supplier name, the supplier address, the purchase order (PO) number,the original payment terms, the supplier name, the supplier address, theinvoice number, the invoice (attached PDF file), the original invoiceamount, and the invoice date of approval.

In the examples above, the early payment offer message may includespecific data fields associated with: the buyer name, the buyer address,the discount offered, the funding bank name, and a funding bank ID.

In the examples above, the early payment confirmation message mayinclude specific data fields associated with: the buyer name, the buyeraddress, the purchase order (PO) number, the original payment terms, thesupplier name, the supplier address, the invoice number, the invoice(attached PDF file), the original invoice amount, the invoice date ofapproval, the discount code, the discount applied, the early paymentamount, the settlement date, the funding bank, the funding bank ID, thereceiving bank, the receiving bank ID, the early payment identifier, andthe closing payment date.

In the examples above, the early payment notification message mayinclude specific data fields associated with: the supplier name, thesupplier address, the invoice number, the invoice (attached PDF file),the original invoice amount, the discount applied, the early paymentamount, the funding bank name, the funding bank ID, and the earlypayment identifier.

In the examples above, the closing payment confirmation message mayinclude specific data fields associated with: the corporate name of thepaying entity (e.g. the supplier name or the buyer name), the corporateaddress of the paying entity (e.g. the supplier address or the buyeraddress), the invoice number, the invoice (attached PDF), the originalinvoice amount, the payment amount, the settlement date, the paying bankID, the paying bank name, the funding bank ID, the funding bank name,and the early payment identifier.

In other examples, the early payment request message, the early paymentoffer message, the early payment confirmation message, the early paymentnotification message, and the closing payment confirmation message eachmay include any of the data fields described above or other specificdata fields corresponding to data in the SCF transaction.

In other examples, messages according to the improved SCF messagingprotocol and including a plurality of specific data fields correspondingto the SCF transaction are sent by and received by any of the entitiesinvolved in the SCF transaction according to the needs of the particularSCF transaction. These messages may include any of the specific datafields described above or other specific data fields corresponding todata in an SCF transaction.

A message sent according to the improved messaging protocol andincluding specific data fields related to an SCF transaction allows forreal-time data transfer in the SCF transaction along with the transferof payments. Such a message also allows for one of the computing devicesreceiving the message to interpret the message and organize datacontained in the message into a database, where corresponding data fromcorresponding SCF transactions can be associated. These advantageseliminate the need to manually reconcile received data withcorresponding data and payments, and increase the efficiency with whichthe information can be accessed and further transfers of the informationcan be made. In addition, message data stored and compiled in thedatabase can be analyzed by the SCF computing device to predict risksand outcomes of future SCF transactions and improve the functionality ofthe SCF network, for example, by using machine learning techniques.

The technical problems addressed by the disclosure include at least oneof: (i) inefficiency due to the need to reconcile informationtransferred between entities involved in an SCF transaction, (ii)inefficiency due to the need to manually compile related informationassociated with an SCF transaction, (iii) inability to communicatebetween computing devices using a customized messaging protocol for anSCF transaction; (iv) inability to send large amount of data using acustomized messaging protocol for an SCF transaction, and (v)inefficiency due to a lack of a standardized format for messages in anSCF transaction.

The technical effects achieved by the systems and methods describedherein include at least one of: (i) receiving a request message thatincludes a plurality of data fields including data related to a requestfor supply chain financing, wherein the request message utilizes animproved messaging protocol for SCF transactions, (ii) selecting afinancing entity for receiving the request message, (iii) transmittingthe request message to the selected financing entity, wherein therequest message utilizes the same messaging protocol, and (iv) receivinga confirmation message from the financing entity, the confirmationmessage being a SCF confirmation message utilizing the same messagingprotocol and including a plurality of data fields.

The resulting technical benefits achieved by the systems and methods ofthe disclosure include at least one of: (i) the ability to sendreal-time, data-rich messages among entities involved in an SCFtransaction having an improved and standardized messaging protocol, (ii)the ability to automatically reconcile information transferred betweenentities involved in an SCF transaction in a real-time message, (iii)the ability to automatically compile related information associated withan SCF transaction received in real-time messages, and (iv) the abilityto automatically analyze compiled information associated with an SCFtransaction.

FIG. 1 is a schematic showing an SCF network 100 for real-time messagingin a supply chain financing (SCF) transaction using an improvedmessaging protocol. SCF network 100 includes a supplier computing device102, a buyer computing device 104, a financing entity computing device106, and an SCF computing device 110.

Each of the computing devices transmits and receives messages formattedaccording to the improved messaging protocol. The messages have aplurality of specific data fields associated with an SCF transaction.The computing devices, upon receiving the message, automaticallyinterpret the message, allowing the computing devices to take variousfurther actions, for example, storing the received data in a database,reconciling data in the message with that of a previous message, routingthe received message or sending a new message to a different computingdevice, transferring funds, or selecting a financing entity. Themessages may also be linked together by common data fields existing ineach message so a complete transaction history of messages may be storedin a central database. The message data may also be analyzed usingartificial intelligence and machine learning techniques so thatdecisions can be automatically made by the system and risk scores can begenerated.

Supplier computing device 102 is a computing device associated with asupplier that is involved in an SCF transaction. The supplier is anentity that provides or sells items to a buyer. The supplier is oftenpaid with a purchase order or a promise to pay the price of the item atsome time in the future (e.g., 60, 90 or 120 days from receiving theitem). These terms are reflected in an invoice. In an SCF transaction,the supplier typically receives a payment earlier than the due datereflected in the invoice from the financing entity. The earlier paymentusually includes a discount (e.g., 2%, 3%, etc.) off of the invoiced ororiginal payment amount. The discount is agreed to by the supplier inexchange for early payment of the discount amount by the financingentity.

Buyer computing device 104 is a computing device associated with a buyerinvolved in the SCF transaction. The buyer is the entity who makes thepurchase from the supplier and is obligated to pay the correspondinginvoice (e.g., invoiced amount or original payment amount) before theinvoiced due date. In the systems and processes described herein, thebuyer, in some of the SCF transactions, initiates the SCF transaction bysubmitting via SCF network 100 the invoice received from a supplier sothe supplier can accept an early payment through an SCF transaction. Inother SCF transactions, the supplier may initiate the SCF transaction bysubmitting via SCF network 100 the purchase order received from thebuyer so the supplier can accept an early payment through an SCFtransaction. In some other cases, the buyer may also act as thefinancing entity.

Financing entity computing device 106 is a computing device associatedwith the financing entity involved in the SCF transaction. The financingentity makes the early payment to the supplier, less a discount (e.g.,pays the discount amount), and receives payment of the full invoiceamount (e.g., original amount) when the invoice is finally due. Thefinancing entity may be, for example, a financial institution, a bank,etc. In some cases, the financing entity may also be the buyer, wherethe buyer finances the early payment itself. In example embodiments,financing entity computing device 106 is capable of settling fundsbetween accounts associated with entities such as the supplier or buyer.Funds may be transferred through, for example, one or more paymentnetworks that are in communication with the financing entity, thesupplier, and the buyer. These payment networks may include an automatedclearing house (ACH) payment system, a wire transfer system, a real-timepayments system such as The Clearing House Real-Time Payments system, orother payment systems that enables the transfer of funds betweenparties.

SCF computing device 110 includes at least one processor and a memorydevice in communication with the at least one processor. SCF computingdevice 110 receives messages using the SCF messaging protocol thatinclude a plurality of data fields. The messages are formatted accordingto the SCF improved messaging protocol. SCF computing device 110 alsotransmits messages using the same messaging protocol. SCF computingdevice 110 facilitates communication through SCF network 100 between theentities associated with the SCF transaction. SCF computing device 110is configured to receive messages from any of supplier computing devices102, buyer computing devices 106, or financing entities computingdevices 106. SCF computing device 110 then interprets the message, andtakes action based on the context and contents of the message. Forexample, SCF computing device 110 can transmit the received message tothe computing device of an appropriate entity, store receivedinformation in a database, determine a financing entity to receive anSCF request, or direct one entity to transfer funds to another entity.SCF computing device may provide a web portal accessible by suppliercomputing device 102, buyer computing device 104, and financing entitycomputing device 106, through which the supplier, buyer and financingentity may enter information to be transmitted according to the improvedSCF messaging protocol. Thus, a message according to the improved SCFmessaging protocol may be generated through the web portal provided bySCF computing device 110 at the supplier, buyer, or financing entity,received by SCF computing device 110, and transmitted through SCFnetwork 100.

In the example embodiment, each of supplier computing device 102, thebuyer computing device 104, the financing entity computing device 106communicate with SCF computing device 110. Supplier computing device102, buyer computing device 104, and financing entity computing device106 each transmit messages including a plurality of data fields to SCFcomputing device 108. The messages are formatted using the same improvedmessaging protocol. Supplier computing device 102, buyer computingdevice 104, and financing entity computing device 106 each also receivemessages including a plurality of data fields having the same messageprotocol from the SCF computing device through the SCF network. In theexample embodiment, any of supplier computing device 102, buyercomputing device 104, financing entity computing device 106, or SCFcomputing device stores the received information in the database.

The SCF improved messaging protocol is a specific format in which theplurality of specific data fields are organized. The improved messagingprotocol enables each of the computing devices, when receiving amessage, to read the message and associate the values contained in thespecific data fields with information associated with the SCFtransaction. In the example embodiment, the messaging protocol is basedupon the ISO 20022 messaging scheme. The SCF messaging protocol used bySCF network 100 enables information associated with the SCF transactionto be transmitted in a single, data-rich package so that SCFtransactions can be easily processed, tracked and completed.

The specific data fields include fields associated with information thatrelates to an SCF transaction. The data fields included in a particularmessage depend on the entities sending and receiving the message, andthe context of the message within the SCF transaction. The specific datafields may include, for example, an early payment identifier. The earlypayment identifier is a unique identifier (e.g., a number oralphanumeric code) associated with an early payment in an SCFtransaction. The various data transmissions, including each subsequentmessage in a single SCF transaction each contain the same early paymentidentifier, which enables the SCF computing device to link each messagetogether from a single transaction and store this data in a centralmemory storage. By including the early payment identifier in eachmessage, the system is able to create linked messages, which allows thesystem to better track and analyze SCF transactions.

Because the message is formatted according to a predetermined messagingprotocol and contains predetermined specific data fields, each of thecomputing devices, when receiving the message, can organize datacontained in the message, for example, into a database including datafields that correspond to the data fields of the data package. Thecomputing device receiving the message can use unique identifiers suchas the early payment identifier to determine if the received messagecorresponds to data previously stored in the database. Thus, thecomputing device receiving the message can automatically reconcile thereceived data with preexisting data corresponding to the same SCFtransaction, store the incoming data alongside the preexisting data inthe database, and update the preexisting data without the need formanual data entry.

FIG. 2 is a schematic diagram illustrating the steps of an example SCFtransaction facilitated by SCF network 100 where a supplier 202 makesthe final, closing payment to a financing entity 206. FIG. 3 is aschematic diagram illustrating the computing devices of the exampletransaction of FIG. 2. FIG. 4 is a flow chart illustrating the steps ofthe example transaction of FIG. 2. The entities involved in the exampletransaction are supplier 202, a buyer 204, and financing entity 206.

In the example embodiment, Buyer 204 may submit a purchase order (PO) toa supplier for items (e.g., goods or services) at step 402. The PO has aunique identifier and lists items to be provided by the supplier inexchange for a payment by the buyer.

Supplier 202 may send an invoice to the buyer at step 404. The invoicehas a unique identifier and payment terms. The payment terms include atleast an amount to be paid for the items and a due date by which buyer204 is obligated to make the payment (e.g., 60, 90 or 120 days fromreceiving the item). The invoice may be used by the supplier to obtainfinancing, as the invoice indicates supplier 202 will receive money inthe future, from the buyer by the invoiced due date. In this example SCFtransaction, supplier 202 seeks an early payment of the invoice amount.Supplier 202 may, for example, require an early payment in order to meetfinancial obligations due before supplier 202 receives the payment frombuyer 204. Supplier 202 can use the invoice to obtain an early paymentfrom financing entity 206. The early payment includes a discount (e.g.,2%, 3%, etc.) off of the invoiced or original payment amount. Supplier202 is then obligated to pay the full original invoiced amount tofinancing entity 206 after receiving payment of the invoice from buyer204.

Supplier 202 may request the early payment from financing entity 206 atstep 406. More specifically, this request is submitted by SCF computingdevice 110 over SCF network 100. Supplier 202 accesses SCF network 100via a web portal. Supplier 202 accesses the portal using a computingdevice 102 and enters information regarding the invoice, such as theassociated buyer, the invoice number, the payment terms, and theoriginal invoice amount. SCF computing device 110 generates the requestfrom the information inputted by the supplier and sends the request. SCFcomputing device, when generating the request, may generate an earlypayment identifier. By including the early payment identifier in therequest, the system is able to create linked messages, which allows thesystem to track future messages in the SCF transaction to the request.

SCF computing device 110 selects financing entity 206 at step 408. SCFcomputing device 110 generates an early payment identifier, which is aunique identifier associated with the SCF transaction. In some examples,SCF computing device 110 selects a financing entity by maintaining aroster of financial institutions with associated discount amountsoffered by each financial institution. The financial institutions mayinclude, for example, banks, the buyer, or other entities that providefinancing. A financial institution offering a lower discount amount willmake a larger early payment for the same invoice amount, so SCFcomputing device 110 selects the financial institution with the lowestdiscount amount. In other examples, SCF computing device 110 may useadditional criteria in selecting the financing entity. In other examplesillustrated, for example, by FIG. 5, SCF computing device 110 uses anauction to select the financing entity. SCF computing device 110 sendsthe early payment request message to two or more financial institutions502, which respond with bids 504 that have a proposed discount amount.SCF computing device 110 selects the financial institution 502 offeringthe lowest discount amount. In other examples, SCF computing device 110may first route the request to a bank associated with supplier 202, andresort to other methods of selecting financing entity 206 only if thesupplier's bank does not accept the request. Any of these methods ofselecting financing entity 206 can be performed by SCF computing device110 automatically (e.g., based on rules stored within a memory device incommunication with SCF computing device 110) or with input fromindividuals associated with supplier 202.

SCF computing device 110 may send an SCF early payment request messageto financing entity computing device 110 at step 410. The early paymentrequest message is formatted according to the improved SCF messagingprotocol that can be understood by financing entity computing device110. The message includes data fields associated with the request for anearly payment, for example, data fields containing information about theinvoice, such as the invoice number, payment terms, the original invoiceamount, an attached PDF of the invoice itself, and an early paymentidentifier. The improved messaging protocol allows for this informationto be sent in a single data-rich packet that can be easily processed bythe computing devices. The early payment identifier is a uniqueidentifier (e.g., a number or alphanumeric code) associated with anearly payment in an SCF transaction. The various data transmissions,including each subsequent message in a single SCF transaction eachcontain the same early payment identifier, which enables SCF computingdevice 110 to link each message together from a single transaction andstore this data in a central memory storage. By including the earlypayment identifier in each message, the system is able to create linkedmessages, which allows the system to better track and analyze SCFtransactions.

Financing entity 206 may accept the request at step 412, and SCFcomputing device, based on input from financing entity 206, may send anearly payment confirmation message through SCF network 100 at step 414and using the improved messaging protocol. SCF computing device 110 maytransmit the early payment confirmation message to supplier computingdevice 102. The early payment confirmation message is formattedaccording to the same improved messaging protocol as the early paymentrequest message, allowing SCF computing device 110 and suppliercomputing device 102 to automatically interpret the early paymentconfirmation message. The early payment confirmation message includesspecific data fields relating to the SCF transaction. These data fieldsinclude, for example, the data fields in the early payment requestmessage, the early payment identifier, and additional fields associatedwith the terms of the SCF transaction, such as the discount amount,early payment amount, closing payment amount, and closing payment date.SCF computing device 110 and supplier computing device 102 can use theearly payment identifier to determine which early payment requestmessage corresponds to the early payment confirmation message. Thecomputing devices can then reconcile incoming data with previous dataassociated with the same SCF transaction, link the incoming data topreexisting data in a database corresponding to the same SCFtransaction, and update the preexisting data without the need for manualdata entry.

Financing entity 206 transfers the early payment amount to a bankaccount associated with supplier 202 at step 416. Funds may betransferred through, for example, one or more payment networks that arein communication with the supplier 202, buyer 204, and financing entity206. These payment networks may include an automated clearing house(ACH) payment system, a wire transfer system, a real-time paymentssystem such as The Clearing House Real-Time Payments system, or otherpayment systems that enable the transfer of funds between parties.

Buyer 204 may pay the original invoice amount to supplier 202 by theoriginal due date at step 418, and supplier 202 initiates the closingpayment to financing entity 206 through SCF network 100. SCF computingdevice 110, based on input from supplier 202, may send a closing paymentconfirmation message to financing entity computing device 106 at step420. The closing payment confirmation message is formatted according tothe same improved messaging protocol as the previous messages, allowingSCF computing device 110 and financing entity computing device 106 toautomatically interpret the closing payment confirmation message. Theclosing payment confirmation message includes specific data fieldsrelating to the SCF transaction. These data fields include, for example,the data fields in the previous messages, including the early paymentidentifier. SCF computing device 110 and financing entity computingdevice 106 can use the early payment identifier to determine whichprevious messages correspond to the closing payment confirmationmessage. The computing devices can then reconcile incoming data withprevious data associated with the same SCF transaction, link theincoming data to preexisting data in a database corresponding to thesame SCF transaction, and update the preexisting data without the needfor manual data entry. In some embodiments, SCF computing device 110 mayalso send an SCF closing payment confirmation message to supplier 202and/or buyer 204.

Supplier 202 may pay the closing payment of the original invoice amountto financing entity 206 at step 422. Funds may be transferred through,for example, one or more payment networks that are in communication withthe supplier 202, buyer 204, and financing entity 206. These paymentnetworks may include an automated clearing house (ACH) payment system, awire transfer system, a real-time payments system such as The ClearingHouse Real-Time Payments system, or other payment systems that enablethe transfer of funds between parties.

FIG. 3 is a schematic diagram illustrating the computing devices of theexample transaction of FIG. 2. In the example transaction, suppliercomputing device 102 and financing entity computing device 106communicate with SCF computing device 110. The computing devices computeusing messages having the improved SCF messaging protocol, as describedabove. SCF computing device 110 parses messages (e.g., the early paymentrequest message, the early payment confirmation message, and the earlypayment confirmation message) based upon the SCF messaging protocol andstores within a memory device the SCF data parsed from the SCF messages.

FIG. 4 is a flow chart illustrating the steps of the example transactionof FIG. 2. In the example embodiment, buyer 204 may submit a purchaseorder (PO) to a supplier for items (e.g., goods or services) at step402. Supplier 202 may send an invoice to the buyer at step 404. Thesupplier may request the early payment from financing entity 206 at step406. SCF computing device 110 selects financing entity 206 at step 408.SCF computing device may send an SCF early payment request message tofinancing entity computing device 110 at step 410. Financing entity 206may accept the request at step 412. SCF computing device 110, on behalfof financing entity 206, may send an early payment confirmation messagethrough SCF network 100 at step 414 using a computing device 106 andusing the improved messaging protocol. Financing entity may transfer theearly payment amount to a bank account associated with supplier 202 atstep 416. Buyer 204 may pay the original invoice amount to supplier 202by the original due date at step 418, and supplier 202 thus may initiatethe closing payment to financing entity 206 through SCF network 100. SCFcomputing device 110 may send a closing payment confirmation message tofinancing entity computing device 106 at step 420. Supplier 202 may paythe closing payment of the original invoice amount to financing entity206 at step 422. In some embodiments, the SCF computing device may alsosend the closing payment confirmation message to the supplier and/or thebuyer.

FIG. 5 is a schematic diagram illustrating an example auction forselecting a financing entity. SCF computing device 110 may use anauction to select the financing entity. SCF computing device 110 maysend an early payment request message to two or more financialinstitutions 502, which respond with bids 504 that have a proposeddiscount amount. SCF computing device 110 may select one of the bidsbased on rules stored within a memory device in communication with SCFcomputing device 110. For example, SCF computing device 110 may firstattempt to select a bid from a bank associated with supplier 202, but ifSCF computing device 110 has not received such a bid, SCF computingdevice 110 may select a bid with the most favorable discount amount.

FIG. 6 is a schematic diagram illustrating the steps of an example SCFtransaction facilitated by SCF network 100 where a buyer 604 makes thefinal, closing payment to a financing entity 606. FIG. 7 is a schematicdiagram illustrating the computing devices of the example transaction ofFIG. 6. FIG. 8 is a flow chart illustrating the steps of the exampletransaction of FIG. 6. The entities involved in the example transactionare a supplier 602, buyer 604, and financing entity 606.

In the example embodiment, Buyer 604 may submit a purchase order (PO) tosupplier 602 for items (e.g., goods or services) at step 802. The PO hasa unique identifier and lists items to be provided by the supplier inexchange for a payment by the buyer.

Supplier 602 may send an invoice to buyer 604 at step 804. The invoicehas a unique identifier and payment terms. The payment terms include atleast an amount to be paid for the items and a due date by which buyer604 is obligated to make the payment (e.g., 60, 90 or 120 days fromreceiving the item). The invoice may be used by the supplier to obtainfinancing, as the invoice indicates supplier 602 will receive money inthe future, from the buyer by the invoiced due date. In this example SCFtransaction, buyer 604 offers an early payment to supplier 602. Theearly payment includes a discount (e.g., 2%, 3%, etc.) off of theinvoiced or original payment amount. The early payment is financed byfinancing entity 606. The buyer is then obligated to pay the fulloriginal invoiced amount to financing entity 606 by the invoiced duedate.

SCF computing device 110 may select a financing entity at step 806 andsends the early payment request message to the selected financing entity606. SCF computing device 110 generates an early payment identifier,which is a unique identifier associated with the SCF transaction. Insome examples, SCF computing device selects a financing entity 606 bymaintaining a roster of financial institutions with associated discountamounts offered by each financial institution. The financialinstitutions may include, for example, banks, the buyer, or otherentities that provide financing. A financial institution offering alower discount amount will make a larger early payment for the sameinvoice amount, so SCF computing device 110 selects the financialinstitution with the lowest discount amount. In other examples, SCFcomputing device 110 may use additional criteria in selecting thefinancing entity. In other examples, SCF computing device 110 uses anauction to select financing entity 606. SCF computing device 110 sendsthe early payment request message to two or more financial institutions,which respond with bids having a proposed discount amount. SCF computingdevice 110 selects the financial institution offering the lowestdiscount amount or by applying some other rule designated by thesupplier. In other examples, SCF computing device 110 may first routethe request to a bank associated with the buyer, and resort to othermethods of selecting the financing entity 606 only if the buyer's bankdoes not accept the request. Any of these methods of selecting financingentity 606 can be performed by SCF computing device 110 automatically orwith input from individuals associated with buyer 604.

Once financing entity 606 accepts the request, SCF computing device 110,based on input from financing entity 606, may send an early paymentoffer message through SCF network 100 at step 808. SCF computing devicemay transmit the early payment offer message to supplier computingdevice 102. The early payment offer message is formatted according tothe same improved messaging protocol as the early payment requestmessage, allowing SCF computing device 110 and supplier computing device102 to automatically interpret the early payment offer message. Theearly payment offer message includes specific data fields relating tothe SCF transaction. These data fields include, for example, the datafields in the early payment request message, the early paymentidentifier, and additional fields associated with the proposed terms ofthe SCF transaction, such as the offered discount amount, offered earlypayment amount, closing payment amount, and closing payment date. SCFcomputing device 110 and supplier computing device 102 can use the earlypayment identifier to determine which previous messages correspond tothe early payment offer message. The computing devices can thenreconcile incoming data with previous data associated with the same SCFtransaction, link the incoming data to preexisting data in a databasecorresponding to the same SCF transaction, and update the preexistingdata without the need for manual data entry.

Supplier 602 may accept the offer for early payment through the SCFnetwork 100 at step 810. SCF computing device 110, based on input fromfinancing entity 606, may send an early payment confirmation messagethrough SCF network 100 at step 812. SCF computing device 110 receivesthe early payment confirmation message from financing entity computingdevice 106. SCF computing device 110 may transmit the early paymentconfirmation message to supplier computing device 102. The early paymentconfirmation message is formatted according to the same improvedmessaging protocol as the early payment request message and earlypayment offer message, allowing SCF computing device 110 and suppliercomputing device 102 to automatically interpret the early paymentconfirmation message. The early payment confirmation message includesspecific data fields relating to the SCF transaction. These data fieldsinclude, for example, the data fields in the early payment request andoffer messages, the early payment identifier, and additional fieldsassociated with the terms of the SCF transaction, such as the discountamount, early payment amount, closing payment amount, and closingpayment date. SCF computing device 110 and supplier computing device 102can use the early payment identifier to determine which previousmessages correspond to the early payment confirmation message. Thecomputing devices can then reconcile incoming data with previous dataassociated with the same SCF transaction, link the incoming data topreexisting data in a database corresponding to the same SCFtransaction, and update the preexisting data without the need for manualdata entry.

Financing entity 606 may transfer the early payment amount to a bankaccount 610 associated with the supplier at step 814. Funds may betransferred through, for example, one or more payment networks that arein communication with the supplier 602, buyer 604, and financing entity606. These payment networks may include an automated clearing house(ACH) payment system, a wire transfer system, a real-time paymentssystem such as The Clearing House Real-Time Payments system, or otherpayment systems that enable the transfer of funds between parties.

SCF computing device 110 also may send an early payment notificationmessage to buyer 604 at step 816, to notify buyer 604 that supplier 602has accepted the SCF offer and payment of the invoice amount should bemade to financing entity 606. The early payment notification message isformatted according to the same improved messaging protocol as theprevious messages, allowing buyer computing device 104 to automaticallyinterpret the early payment notification message. The early paymentnotification message includes specific data fields relating to the SCFtransaction. These data fields include, for example, the data fields inthe previous messages, the early payment identifier, and additionalfields associated with the terms of the SCF transaction, such as thediscount amount, early payment amount, closing payment amount, andclosing payment date. Buyer computing device 104 can use the earlypayment identifier to determine which previous messages correspond tothe early payment notification message. The computing device can thenreconcile incoming data with previous data associated with the same SCFtransaction, link the incoming data to preexisting data in a databasecorresponding to the same SCF transaction, and update the preexistingdata without the need for manual data entry.

Buyer 604 may initiate the closing payment through SCF network 100 bythe original invoice due date at step 818. SCF computing device 110,based on input from buyer 604, may send a closing payment confirmationmessage to financing entity computing device 106 at step 820. Theclosing payment confirmation message is formatted according to the sameimproved messaging protocol as the previous messages, allowing SCFcomputing device 110 and financing entity computing device 106 toautomatically interpret the closing payment confirmation message. Theclosing payment confirmation message includes specific data fieldsrelating to the SCF transaction. These data fields include, for example,the data fields in the previous messages, including the early paymentidentifier. SCF computing device 110 and financing entity computingdevice 106 can use the early payment identifier to determine whichprevious messages correspond to the closing payment confirmationmessage. The computing devices can then reconcile incoming data withprevious data associated with the same SCF transaction, link theincoming data to preexisting data in a database corresponding to thesame SCF transaction, and update the preexisting data without the needfor manual data entry. In some embodiments, the SCF computing device mayalso send a closing payment confirmation message to the supplier and/orthe buyer.

Buyer 604 may pay the closing payment of the original invoice amount tofinancing entity 606 at step 822. Funds may be transferred through, forexample, one or more payment networks that are in communication with thesupplier 602, buyer 604, and financing entity 606. These paymentnetworks may include an automated clearing house (ACH) payment system, awire transfer system, a real-time payments system such as The ClearingHouse Real-Time Payments system, or other payment systems that enablethe transfer of funds between parties.

FIG. 7 is a schematic diagram illustrating the computing devices of theexample transaction of FIG. 6. In the example transaction, suppliercomputing device 102, buyer computing device 104, and financing entitycomputing device 106 communicate with SCF computing device 110. Thecomputing devices compute using messages having the improved SCFmessaging protocol, as described above. SCF computing device 110 parsesmessages (e.g., the early payment request message, the early paymentoffer message, the early payment confirmation message, the early paymentnotification message, and the early payment confirmation message) basedupon the SCF messaging protocol and stores within a memory device theSCF data parsed from the SCF messages.

FIG. 8 is a flow chart illustrating the steps of the example transactionof FIG. 6. In the example embodiment, buyer 604 may submit a purchaseorder (PO) to supplier 602 for items (e.g., goods or services) at step802. Supplier 602 may send an invoice to buyer 604 at step 804. SCFcomputing device 110 may select a financing entity at step 806 and sendthe early payment request message to the selected financing entity 606.SCF computing device 110, on behalf of financing entity 606, may send anearly payment offer message through SCF network 100 using a computingdevice 106 at step 808. Supplier 602 may accept the offer for earlypayment through the SCF network 100 at step 810. SCF computing device110, on behalf of financing entity 606, may send an early paymentconfirmation message through SCF network 100 using financing entitycomputing device 106 at step 812. Financing entity 606 may transfer theearly payment amount to a bank account 610 associated with the supplierat step 814. SCF computing device 110 may send an early paymentnotification message to buyer 604 at step 816, to notify buyer 604 thatsupplier 602 has accepted the SCF offer and payment of the invoiceamount should be made to financing entity 606. Buyer 604 may initiatethe closing payment through SCF network 100 by the original invoice duedate at step 818. SCF computing device 110 may send a closing paymentconfirmation message to financing entity computing device 106 at step820. Buyer 604 may pay the closing payment of the original invoiceamount to financing entity 606 at step 822.

Use of the disclosed systems and methods is not limited to the foregoingexample SCF transactions. The example SCF transactions merely provide acontext to illustrate the functionality of the disclosed systems andmethods.

As will be appreciated based on the foregoing specification, theabove-described embodiments of the disclosure may be implemented usingcomputer programming or engineering techniques including computersoftware, firmware, hardware or any combination or subset thereof,wherein the technical effects described above are achieved. Any suchresulting program, having computer readable code, may be embodied orprovided within one or more computer-readable media, thereby making acomputer program product, (i.e., an article of manufacture), accordingto the discussed embodiments of the disclosure. The computer-readablemedia may be, for example, but is not limited to, a fixed (hard) drive,diskette, optical disk, magnetic tape, semiconductor memory such asread-only memory (ROM), and/or any transmitting/receiving medium such asthe Internet or other communication network or link. The article ofmanufacture containing the computer code may be made and/or used byexecuting the code directly from one medium, by copying the code fromone medium to another medium, or by transmitting the code over anetwork.

These computer programs (also known as programs, software, softwareapplications, “apps”, or code) include machine instructions for aprogrammable processor, and can be implemented in a high-levelprocedural and/or object-oriented programming language, and/or inassembly/machine language. As used herein, the terms “machine-readablemedium” “computer-readable medium” refers to any computer programproduct, apparatus and/or device (e.g., magnetic discs, optical disks,memory, Programmable Logic Devices (PLDs)) used to provide machineinstructions and/or data to a programmable processor, including amachine readable medium that receives machine instructions as amachine-readable signal. The “machine-readable medium” and“computer-readable medium,” however, do not include transitory signals.The term “machine-readable signal” refers to any signal used to providemachine instructions and/or data to a programmable processor.

The SCF computing device described herein may include a processor or aprocessing element that may employ artificial intelligence and/or betrained using supervised or unsupervised machine learning. The machinelearning program may employ a neural network, which may be aconvolutional neural network, a deep learning neural network, or acombined learning module or program that learns in two or more fields orareas of interest. Machine learning may involve identifying andrecognizing patterns in existing data in order to facilitate makingpredictions for subsequent data. Models may be created based uponexample inputs in order to make valid and reliable predictions for novelinputs.

Additionally or alternatively, the machine learning programs may betrained by inputting sample data sets or certain data into the programs,such as image data, text data, report data, and/or numerical analysis.The machine learning programs may utilize deep learning algorithms thatmay be primarily focused on pattern recognition, and may be trainedafter processing multiple examples. The machine learning programs mayinclude Bayesian program learning (BPL), voice recognition andsynthesis, image or object recognition, optical character recognition,and/or natural language processing—either individually or incombination. The machine learning programs may also include naturallanguage processing, semantic analysis, automatic reasoning, and/ormachine learning.

In supervised machine learning, a processing element may be providedwith example inputs and their associated outputs, and may seek todiscover a general rule that maps inputs to outputs, so that whensubsequent novel inputs are provided the processing element may, basedupon the discovered rule, accurately predict the correct output. Inunsupervised machine learning, the processing element may be required tofind its own structure in unlabeled example inputs. In one embodiment,machine learning techniques may be used to extract data about thecomputer device, services executing on the computer device, and/or otherdata.

In the systems and methods described herein, the SCF computing devicemay use artificial intelligence and machine learning to analyze the SCFtransaction data stored in the central database for several purposes.For example, (i) automatic decision making, such as making decisions forselecting a financing entity or financing entities providing bidding onan SCF transaction; and (ii) risk analysis, such as evaluating each SCFtransaction to determine a risk score corresponding to the riskiness ofthe SCF transaction, such that a financing entity can use the risk scoreto determine, for example, whether to engage in the transaction andappropriate financing rates for the transaction.

This written description uses examples to disclose the invention,including the best mode, and also to enable any person skilled in theart to practice the invention, including making and using any devices orsystems and performing any incorporated methods. The patentable scope ofthe invention is defined by the claims, and may include other examplesthat occur to those skilled in the art. Such other examples are intendedto be within the scope of the claims if they have structural elementsthat do not differ from the literal language of the claims, or if theyinclude equivalent structural elements with insubstantial differencesfrom the literal language of the claims.

What is claimed is:
 1. A computing device for processing real-timemessages for a supply chain financing (SCF) transaction, the messageshaving a standardized messaging protocol, the computing devicecomprising at least one processor and memory device in communicationwith the at least one processor, the at least one processor configuredto: receive a SCF request message including a plurality of data fieldsincluding SCF request data related to a request for providing supplychain financing, the SCF request message generated using a SCF messagingprotocol and including an early payment identifier; parse the SCFrequest message based upon the SCF messaging protocol; select afinancing entity for receiving the request for providing supply chainfinancing; store within the memory device the SCF request data includingthe early payment identifier parsed from the SCF request message and theselected financing entity; transmit an early payment message to theselected financing entity including a plurality of data fields relatedto providing of the supply chain financing, the early payment messagehaving the same SCF messaging protocol and the early payment identifier;receive a confirmation message from the financing entity including aplurality of data fields including SCF confirmation data related toconfirming early payment to the supplier by the selected financingentity, the confirmation message having the same SCF messaging protocoland the early payment identifier; and store within the memory device theSCF confirmation data with the SCF request data, wherein the earlypayment identifier allows for the messages to be linked together withinthe memory device.
 2. The computing device of claim 1, wherein the SCFmessaging protocol is based on the ISO 20022 messaging standard.
 3. Thecomputing device of claim 1, wherein the processor is further configuredto transmit an early payment confirmation message to an entity obligatedto make a closing SCF payment including a plurality of data fieldsincluding the SCF confirmation data, the early payment confirmationmessage having the same SCF messaging protocol and the early paymentidentifier.
 4. The computing device of claim 1, wherein the processor isfurther configured to: receive a closing payment message including aplurality of data fields including closing payment data related to anSCF closing payment, the closing payment message having the same SCFmessaging protocol and the early payment identifier; parse the closingpayment message based upon the SCF messaging protocol; store within thememory device SCF closing payment data parsed from the closing paymentmessage with the SCF request data and the SCF confirmation data, whereinthe early payment identifier allows for the data to be linked togetherwithin the memory device; and transmit a closing payment confirmationmessage to the selected financing entity including a plurality of datafields related to the SCF closing payment, the closing paymentconfirmation message having the same SCF messaging protocol and theearly payment identifier.
 5. The computing device of claim 1, whereinthe processor is further configured to: receive a SCF offer messageincluding a plurality of data fields including SCF offer data related toan offer for providing supply chain financing, the SCF request messagegenerated using a SCF messaging protocol; parse the SCF offer messagebased upon the SCF messaging protocol; store within the memory devicethe SCF offer data including the early payment identifier parsed fromthe SCF request message and the selected financing entity; and transmitan early payment offer message to an entity being offered an SCF earlypayment including a plurality of data fields related to the offer forproviding supply chain financing, the early payment message having thesame SCF messaging protocol and the early payment identifier.
 6. Thecomputing device of claim 1, wherein the processor is further configuredto select the financing entity based on rules stored within the memorydevice.
 7. The computing device of claim 1, wherein the processor isfurther configured, when selecting a financing entity, to: transmitrequests for bids to a plurality of potential financing entities;receive a bid from at least one of the potential financing entities; andselect a financing entity associated with the received bid based onrules stored within the memory device in communication with SCFcomputing device.
 8. The computing device of claim 1, wherein the SCFmessaging protocol includes data fields corresponding to at least oneof: a buyer name, a buyer address, a supplier name, a supplier address,a funding bank name, a funding bank ID, a receiving bank name, areceiving bank ID, a paying bank name, a paying bank ID, a purchaseorder (PO) number, an invoice number, original payment terms, anoriginal invoice amount, an invoice (attached PDF), an invoice date ofapproval, a discount code, a discount applied, a discount offered, asettlement date, an early payment amount, the early payment identifier,a closing payment amount, and a closing payment date.
 9. Acomputer-implemented method for processing real-time messages for asupply chain financing (SCF) transaction, the messages having astandardized messaging protocol, the method implemented by a computingdevice comprising at least one processor and memory device incommunication with the at least one processor, the method comprising:receiving a SCF request message including a plurality of data fieldsincluding SCF request data related to a request for providing supplychain financing, the SCF request message generated using a SCF messagingprotocol and including an early payment identifier; parsing the SCFrequest message based upon the SCF messaging protocol; selecting afinancing entity for receiving the request for providing supply chainfinancing; storing within the memory device the SCF request dataincluding the early payment identifier parsed from the SCF requestmessage and the selected financing entity; transmitting an early paymentmessage to the selected financing entity including a plurality of datafields related to providing of the supply chain financing, the earlypayment message having the same SCF messaging protocol and the earlypayment identifier; receiving a confirmation message from the financingentity including a plurality of data fields including SCF confirmationdata related to confirming early payment to the supplier by the selectedfinancing entity, the confirmation message having the same SCF messagingprotocol and the early payment identifier; and storing within the memorydevice the SCF confirmation data with the SCF request data, wherein theearly payment identifier allows for the messages to be linked togetherwithin the memory device.
 10. The method of claim 9, wherein the SCFmessaging protocol is based on the ISO 20022 messaging standard.
 11. Themethod of claim 9, wherein the method further comprises transmitting anearly payment confirmation message to an entity obligated to make aclosing SCF payment including a plurality of data fields including theSCF confirmation data, the early payment confirmation message having thesame SCF messaging protocol and the early payment identifier.
 12. Themethod of claim 9, wherein the method further comprises: receiving aclosing payment message including a plurality of data fields includingclosing payment data related to an SCF closing payment, the closingpayment message having the same SCF messaging protocol and the earlypayment identifier; parsing the closing payment message based upon theSCF messaging protocol; storing within the memory device SCF closingpayment data including the early payment identifier parsed from theclosing payment message with the SCF request data and the SCFconfirmation data, wherein the early payment identifier allows for thedata to be linked together within the memory device; and transmitting aclosing payment confirmation message to the selected financing entityincluding a plurality of data fields related to the SCF closing payment,the closing payment confirmation message having the same SCF messagingprotocol and the early payment identifier.
 13. The method of claim 9,wherein the method further comprises: receiving a SCF offer messageincluding a plurality of data fields including SCF offer data related toan offer for providing supply chain financing, the SCF request messagehaving a SCF messaging protocol and the early payment identifier;parsing the SCF offer message based upon the SCF messaging protocol;storing within the memory device the SCF offer data including the earlypayment identifier parsed from the SCF request message and the selectedfinancing entity; and transmitting an early payment offer message to anentity being offered an SCF early payment including a plurality of datafields related to the offer for providing supply chain financing, theearly payment message having the same SCF messaging protocol and theearly payment identifier.
 14. The method of claim 9, wherein the methodfurther comprises selecting a financing entity based on rules storedwithin the memory device.
 15. The method of claim 9, wherein theprocessor is further configured, when selecting a financing entity, to:transmit requests for bids to a plurality of potential financingentities; receive a bid from at least one of the potential financingentities; and select a financing entity associated with the received bidbased on rules stored within the memory device in communication with SCFcomputing device.
 16. The method of claim 9, wherein the SCF messagingprotocol includes data fields corresponding to at least one of: a buyername, a buyer address, a supplier name, a supplier address, a fundingbank name, a funding bank ID, a receiving bank name, a receiving bankID, a paying bank name, a paying bank ID, a purchase order (PO) number,an invoice number, original payment terms, an original invoice amount,an invoice (attached PDF), an invoice date of approval, a discount code,a discount applied, a discount offered, a settlement date, an earlypayment amount, the early payment identifier, a closing payment amount,and a closing payment date.
 17. At least one non-transitory computerreadable media having computer-executable instructions thereon forprocessing real-time messages for a supply chain financing (SCF)transaction, the messages having a standardized messaging protocol,wherein when executed by at least one processor of a computing device,cause the at least one processor to: receive a SCF request messageincluding a plurality of data fields including SCF request data relatedto a request for providing supply chain financing, the SCF requestmessage generated using a SCF messaging protocol and including an earlypayment identifier; parse the SCF request message based upon the SCFmessaging protocol; select a financing entity for receiving the requestfor providing supply chain financing; store within the memory device theSCF request data including the early payment identifier parsed from theSCF request message and the selected financing entity; transmit an earlypayment message to the selected financing entity including a pluralityof data fields related to providing of the supply chain financing, theearly payment message having the same SCF messaging protocol and theearly payment identifier; receive a confirmation message from thefinancing entity including a plurality of data fields including SCFconfirmation data related to confirming early payment to the supplier bythe selected financing entity, the confirmation message having the sameSCF messaging protocol and the early payment identifier; and storewithin the memory device the SCF confirmation data with the SCF requestdata, wherein the early payment identifier allows for the messages to belinked together within the memory device.
 18. The computer-readablemedia of claim 17, wherein the SCF messaging protocol is based on theISO 20022 messaging standard.
 19. The computer-readable media of claim17, wherein the computer-executable instructions further cause theprocessor to transmit an early payment confirmation message to an entityobligated to make a closing SCF payment including a plurality of datafields including the SCF confirmation data, the early paymentconfirmation message having the same SCF messaging protocol and theearly payment identifier.
 20. The computer-readable media of claim 17,wherein the computer-executable instructions further cause the processorto: receive a closing payment message including a plurality of datafields including closing payment data related to an SCF closing payment,the closing payment message having the same SCF messaging protocol andthe early payment identifier; parse the closing payment message basedupon the SCF messaging protocol; store within the memory device SCFclosing payment data including the early payment identifier parsed fromthe closing payment message with the SCF request data and the SCFconfirmation data, wherein the early payment identifier allows for thedata to be linked together within the memory device; and transmit aclosing payment confirmation message to the selected financing entityincluding a plurality of data fields related to the SCF closing payment,the closing payment confirmation message having the same SCF messagingprotocol and the early payment identifier.
 21. The computer-readablemedia of claim 17, wherein the computer-executable instructions furthercause the processor to: receive a SCF offer message including aplurality of data fields including SCF offer data related to an offerfor providing supply chain financing, the SCF request message having aSCF messaging protocol and the early payment identifier; parse the SCFoffer message based upon the SCF messaging protocol; store within thememory device the SCF offer data including the early payment identifierparsed from the SCF request message and the selected financing entity;and transmit an early payment offer message to an entity being offeredan SCF early payment including a plurality of data fields related to theoffer for providing supply chain financing, the early payment messagehaving the same SCF messaging protocol and the early payment number.